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A teaser video for the launch of the Starbucks Samsung Card released on YouTube by Samsung Card. (Source: Samsung Card YouTube) |
[Alpha Biz= Kim Jisun] SEOUL, May 25 — South Korean card issuers are facing unexpected challenges following controversy surrounding Starbucks Korea’s recent marketing campaign tied to the May 18 Gwangju Democratic Uprising.
According to industry sources, Woori Card and Samsung Card recently launched co-branded cards with Starbucks, while Shinhan Card has begun reviewing the timing of its planned launch.
The controversy has raised concerns over reputational risks in private label credit card (PLCC) partnerships, where brand image is closely shared between partners. Card issuers are reportedly caught off guard, as the issue emerged shortly after expanding partnerships beyond Starbucks’ previous exclusive arrangement.
Despite the situation, there has been no significant wave of card cancellations so far, though the incident highlights potential business risks tied to brand-linked financial products.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
